The Cardano (ADA) cryptocurrency has seen a significant increase in whale activity, with an average daily transaction volume of $13.84 billion in the past week. This volume has surpassed both Litecoin and Dogecoin by 500% and 1,600% respectively, making it one-third of Bitcoin's current volume. Analysis of on-chain data shows that despite a slight decline from its peak, the large transaction volume remains substantial at 23.22 billion ADA (equivalent to $10.87 billion). The surge in whale activity has led to an increase of nearly 700 million ADA (approximately $350 million) from previous levels.

Cardano (ADA) Price Movement

Despite the surge in whale activity, the price of ADA has declined by over 7.8% in the past week. Currently, the Cardano token is valued at $0.4543 per token. Interestingly, the increase in whale transactions has not been reflected in the token's market value. This disparity raises questions about the driving factors behind Cardano's recent surge in whale activity and its potential impact on the token's price.